Mando to invest KRW300 bil. in developing advanced components
Plans to expand production of anti-lock braking system (ABS, electric power steering (EPS) system and increase investment in radar and sensor areas.
South Korean component manufacturer Mando will invest about 300 billion won (USD272 million) in developing advanced parts and components, reports the Korea Economic Daily. Mando will invest the whole amount by 2017, with about KRW160 billion going towards expanding production of its new MGH-80 anti-lock braking system (ABS). The company will produce the new MGH-80 model at its Pyeongtaek plant and aims to manufacture up to 10 million units by 2017, from 7 million in 2014. The remaining KRW160 billion will be channelled towards expanding its electric power steering (EPS) system production line by 2017. Additionally, Mando will also increase investment in radar and sensor areas to enhance the safety features of its brake and steering systems.
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